Bitcoin: Gann Chart Example (Bear/Bull Market Identification)
Updated
Here is an example chart to showcase the application of Gann Fan in case of bitcoin. You can clearly see how does it help you in recognizing the bear & bull markets.
I have traded these positions & still trading (longs/shorts)!
I have traded these positions & still trading (longs/shorts)!
Note
Integrated Market Analysis: Knowing the market & timing it is always difficult. Solving a Price-Time Problem is another story. Here is a snippet of my recent work & trades. Don't over interpret this timeframe since there are many internal bull-bear cycles that you can trade. But to get it right, you will clearly see how can one benefit the trades using Gann-Fib-Elliott https://integration....nnnhttps://invst.ly/6-g-7...Bullish mindsets since Mar 19 will be happy that they overcome the bearish stress defined in the first week of March. Whereas the people from Dec-17 school will remain in bearish mindset. I just thought it is worthy to share here since it is a textbook case. There are many bear-bull markets but on different time-frames. For march this is the story!Note
Further trades with Gann, follow me also on investing dot com. Can't combine posts here. Here is my latest update post shorting...All major SS targets hit (8.3, 8.1, and 7.9)! I am left with one last major position only. Here are some critical numbers: 7697 - puts it back to 23% relative to Mar 19, if it holds; 7599 - puts it back to 38% relative to $1; 7363 - puts it back to 23% relative to early Feb; 7217 - SMA300d serves as a long-term support. The only day it tried to get near SMA300 was Feb 6. 5H TI: Oversold (STOCHRSI, William %R, RSI 33.5 nearing the oversold conditions). Momentum is still high/at its peak. 1D TI: All majors (STOCHRSI, RSI, William %R) are approaching oversold conditions. So, a drop to test SMA300d may result in such a condition in a day or two. Based on these numbers, I will manually stop these shorts around 7500. I will certainly get more opportunities to trade (long/short) in coming days. This will give me time to think about the important swing dates i.e. Mar(19), Feb(6) and Dec-17 to foresee possible trading targets & ranges for April.
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